LIC's New Endowment Plan (Plan No. 914)

LIC's New Endowment Plan (Plan No. 914) is a participating, traditional endowment plan that combines life insurance protection with guaranteed savings and bonus benefits. Here's a breakdown of its key features:


  • Death Benefit: In case of the policyholder's unfortunate demise during the policy term, the nominee receives the sum assured along with any accrued bonuses. This provides financial security for your loved ones.
  • Maturity Benefit: On surviving the policy term, you receive the sum assured and all accumulated bonuses as a lump sum maturity benefit. This serves as a financial reward for your disciplined savings.
  • Simple Reversionary Bonus: LIC declares bonuses every year, which are added to the sum assured as "Simple Reversionary Bonus." This enhances your overall corpus upon maturity or death.
  • Guaranteed Sum Assured Rebate: Depending on the chosen policy term and premium paying frequency, you can avail a discount on the sum assured, making the premium more affordable.
  • Loan Facility: You can avail loans against the policy after a certain period if you require immediate financial assistance.
  • Surrender Benefit: If you need to prematurely exit the policy, you can surrender it after a specific period and receive a surrender value.

Key Features:

  • Policy Term: 12 to 35 years
  • Minimum Entry Age: 8 years
  • Maximum Entry Age: 55 years (policy can continue till 75 years)
  • Premium Payment Frequency: Yearly, Half-yearly, Quarterly, or Monthly
  • Minimum Sum Assured: Rs. 25,000
  • Maximum Sum Assured: No limit


  • Dual benefit of life insurance and savings: Provides financial protection for your family while also accumulating wealth through guaranteed bonuses.
  • Long policy term flexibility: Choose a term that suits your financial goals and risk appetite.
  • Guaranteed returns: Ensures predictable growth through sum assured and bonuses, unlike market-linked plans.
  • Additional benefits: Loan facility, surrender option, and guaranteed sum assured rebate offer added flexibility and financial assistance.

Things to Consider:

  • Premium payments: Regular premium payments for the entire policy term are mandatory.
  • Bonuses: Bonus rates are not guaranteed and may vary year-to-year.
  • Surrender charges: Early surrender may attract penalty charges.
  • Other investment options: Compare this plan with other investment options based on your risk profile and financial goals.

Overall, LIC's New Endowment Plan (Plan No. 914) is a reliable and versatile option for individuals seeking long-term life insurance protection with guaranteed savings and bonus benefits. However, it's crucial to carefully assess your financial needs and objectives before making any investment decisions.

I hope this information helps! If you have any further questions about the plan or specific details like premium amounts or bonus rates, feel free to ask.